Lucintel’s latest market report analyzed that carbon fiber provides attractive opportunities in aerospace, industrial, and sporting goods industries. The carbon fiber market is expected to reach $5.3 billion by 2028 with a CAGR of 6.8%. In this market, PAN based is the largest segment by precursor type, whereas industrial is largest by end use industry. Production of low cost carbon fiber, joint ventures of carbon fiber manufactures with OEMs and part fabricators, and growing initiatives for recycling of carbon fiber provides strategic growth path in this market.
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Based on precursor type, the carbon fiber market is segmented into PAN based and pitch based. The PAN based segment accounted for the largest share of the market in 2020 and is expected to register the highest CAGR during the forecast period, due to its wide application area in transportation, aerospace/defense, and wind energy industries.
Browse in-depth TOC on “Carbon Fiber Market”
113 – Tables
119 – Figures
306 – Pages
The Carbon Fiber Market is marked by the presence of several big and small players. Some of the prominent players offering carbon fiber include Toray Industries Inc., Hexcel Corporation, Mitsubishi Rayon Corporation Limited, Cytec Solvay Group, SGL Carbon Group, Teijin Limited, Formosa Plastics Corporation, DowAksa, Hyosung Corporation, Nippon Graphite Fiber Corporation, Kureha Corporation, Osaka Gas Chemical Corporation Ltd., Dalian Xingke Carbon Fiber Co., Jilin Jiyan High-Tech Fibers, Anshan Sinocarb Carbon Fibers Co., Ltd., Sinosteel Jilin Carbon Co., Ltd., Weihai Tuozhan Fiber , Zhongheng New Material, Zhongfu Shenying Carbon Fiber Co., Ltd., and Jiangsu Hengshen Fiber Materials Co., Ltd.
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